Anyone else hear that they've put a freeze on hiring onshore workers and anyone that leaves will have their job opened in a cooresponding low cost location.
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@Post ID: @1Oosg+SBkc7Z6
Easy answer the jobs listed at list 99% are jobs which they will keep for only about 18months, before outsourcing to India.
Remember the State Street has been outsourcing jobs since the year 2000
Yes they want 90 percent of the US staff replaced by offshore centers. No more contractors and not replacing people who leave. All new positions need to be at “low cost locations” read China and if they aske for too much they will find another location of dirt cheap labor . Listings are just that to give appearance nothing more.
The hiring freeze in India is true but only because the buildings they have in India are full. Why are they full because they are moving 85% of US Jobs to India by the end of 2019. Layoffs are still going to happen regardless of the Q3 report. I was a managing director in Fund Admin in Boston up until this summer (I left voluntarily) and I can confirm that their plan is to move 85% of the US workforce to India by the end of 2019. Some groups are at 50% or more already. If your group is not at 85% now, more layoffs are coming and a good financial report in Q3 is irrelevant.
i was told there is hiring freeze, but if you look at online job boards there are numerous state street job listings....so what gives????
after ppl leaving our department...their racks are not being filled and are transferred to the east...you know where
i just heard about a hiring freeze. Nothing about the low cost location.